Creative Mulit Family Offer Ideas

[Shane O'Donnell]

Fellow BP'ers: I'm part time real estate investor looking to elevate my investment strategy into multi family. We've both been researching markets, educating ourselves on best multi family best practices over the past 8 months.

I'm a successful corporate exec and have been involved in real estate on and off over the last ten years (but not multi family).

Me, along with a partner of mine, plan to purchase a small to mid size multi unit property in the next 3-6 months (up to 30 units)

We could assemble a team in the area we're looking to purchase multi family but I don't have much expeience getting really creative with a multi family deal. SO.... I need help with ideas on how to structure a deal that we're considering.

Here are high level details on property:
* 18 Unit property (owner operator currently)

* 9 Units recently renovated (the remaining 9 units are being personally renovated by the owner/operator)
* Value add property for sure (raising rents, potentially finishing the 9 units that need renovating ourselves, etc.)

* Tier 2 City - B Neighborhood

* Property is Not cash flow positive while under construciton (50% vacancy now)
* Listing the property for sale privately - I could purchase if I can figure out a way to do so while it's under renovation

* Me and my partner have plenty of funds for a down payment

** What options could I consider, if the numbers makes sense, to purchase the property now, while being renovated so I can capture the upside? 

Thanks all!  Happy  to provide more detail where needed.